Micro-Mechanics - DBS Research 2022-10-31: Near-Term Weakness To Persist

• Refer to Micro Mechanics's earnings announcement dated 28 Oct 2022:

1QFY23 revenue saw slowing growth, below expectations.

• - Read this at SGinvestors.io -
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• In 1QFY23, the Singapore and Philippine markets saw positive revenue growth q-o-q at +4% and +31%, respectively, although both markets made smaller revenue contributions, aggregating at 21%, versus China/US contributing 27%/24% to revenue, respectively.
• Overall, 1QFY23 saw moderating growth of -8% q-o-q and -1% y-o-y, highlighting slowing conditions in the global semiconductor industry. Although, 1QFY23 capacity utilisation rates remained stable and healthy at 61% (4QFY22: 60%, 1QFY22: 61%).

Margins continue to see pressure, the worst is potentially not over.

• Read more at SGinvestors.io.

Singapore Research Team DBS Group Research | Lee Keng LING DBS Research | https://www.dbs.com/insightsdirect/ 2022-10-31 SGinvestors.io

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